The Silicon Review
From start-ups to global enterprises, today's fastest-growing businesses are harnessing the power of the subscription model to deliver predictable revenue, reveal critical customer insights, and automate revenue-optimizing decisions. Subscription management refers to customer lifecycle operations like managing trials, assigning credits, issuing refunds and making mid-cycle subscription changes. A good chunk of all the digital and physical services we use today are subscription based. Every business that has a subscription-based pricing structure keeps track of customers, processes payments and cancellations, records buying history, sends invoices at the right time, triggers payment failures, and much more. A subscription management solution works on top of a payment processor to support recurring billing and allows teams to take actions that cannot be automated. In other words, it allows you to address many of the customer-related actions that come into the picture when payments recur.
Recurly is one such subscription management firm that makes subscriptions a competitive advantage for leading brands worldwide. Growing subscription businesses such as Sling TV, BarkBox, Asana, FabFitFun, Cinemark, and Fubo.tv depend on Recurly to harness the power of the subscription model and drive recurring revenue growth. Since its launch in 2010, Recurly has deployed subscription billing for thousands of companies across 42 countries, making it the most trusted pure-play provider of subscription management services. Its Revenue Optimization Engine uses machine learning based on hundreds of millions of successful transactions to improve billing continuity.
Next-generation subscription management services
Recurly's flexible plan management: It helps to create as many plans as you need. Unleash new revenue possibilities by creating an unlimited number of subscription plans. It offers plans with a variety of billing models (fixed, usage-based, etc.) and different billing frequencies. It gives your subscribers the flexibility to purchase single or multiple subscription plans and combine them with one-time products or services. Charging a one-time setup fee is easy with Recurly. You simply set the amount to be charged when you define the details of each subscription plan. Recurly's flexible plan management options support a variety of billing scenarios, payment plans, and business needs.
Recurly's Item Catalog: An item catalog is what you sell while the subscriptions you offer is how you sell them. Without an item catalog, it can be challenging to manage your offerings and gain a clear and accurate understanding of which items are being sold and where they are selling. With Recurly's Item Catalog one can build a catalog of all items offered for sale, including key item details like price, description, taxability, and any additional item details contained in custom fields. It allows the user to sell items as one-time or recurring purchases via both the Recurly UI and API, with unique identifiers to ensure every item sold is accurately tracked. Users can connect items and item sales to one or more external item-management systems, such as a Product Information Management (PIM), fulfillment, or shipping platforms via unique item identifiers.
Recurly's Global Payment Optimization: Accepting payments around the world is easy when you connect your global gateways for worldwide coverage. When a gateway suffers an outage or other issue, transaction declines can skyrocket. New subscribers may be unable to sign up, and you lose both the initial revenue and the subscribers' subsequent recurring revenue. With Gateway Failover, Recurly can route transactions to a backup gateway, ensuring business continuity and peace of mind. The firm supports over twenty payment gateways, so getting merchant accounts connected to Recurly is fast, easy, and seamless. Recurly offers popular payment options for your business, so that your subscribers will always find their preferred method of payment no matter where they are located. Recurly scales with the needs of your business and gives you the flexibility to conduct business globally.
Recurly's Billing and Accounting Services: How you price and package your product and services is about more than just flexibility. In today’s fierce market you’ve got to attract and retain the customers you need to fuel growth now and into the future. Recurly’s flexible billing options make subscriptions your competitive advantage. The firm cuts through the complexity by automating payment responsibilities. Recurly automatically creates an invoice for all billing scenarios, including charges, refunds, credits, shipping fees and taxes. By automating billing, the firm ensures invoices are accurate and processes are scalable. Automated and scalable billing workflows also help increase efficiencies in your finance processes. Your finance and accounting teams have access to clean data with clear audit trails for accurate and efficient reporting.
The Leader Upfront
Dan Burkhart is the Co-founder and serves as the Chief Executive Officer of Recurly. He brings extensive experience from his background of 20 years in roles spanning internet marketing, product marketing, strategic partnerships, business development, and corporate development for eBay and NBC Internet. While at eBay, Mr. Dan led the Global Buyer Engagement team, the eBay Global Affiliate Program and the eBay Portal and Partner organization. Prior to eBay, he was a Senior Director of Business Development for NBC Internet, where he played a key role in building the company from $20MM in revenue to $120MM. Mr. Dan attended the University of Pennsylvania's, Wharton School for his undergraduate degree in economics and received his MBA from the Anderson School at UCLA.